Almonty Industries (NASDAQ:ALM) Stock Price Down 5.4% - Should You Sell?

Key Points

• Almonty shares dropped 5.4% on Monday to roughly $20.75, trading as low as $20.49 on light volume of ~847,351 shares (about an 84% decline versus average daily volume).
• Analyst views are mixed—one Strong Buy, four Buy and one Sell—with a MarketBeat consensus of “Moderate Buy” and a consensus price target of $18.38, which is below the current share price.
• Fundamentally, Almonty is a tungsten miner with a market cap of ~$5.97B, a negative P/E (-36.35), strong liquidity (quick ratio 3.76, current ratio 3.89) and a debt-to-equity of 0.38.

Almonty Industries Inc. (NASDAQ:ALM - Get Free Report)'s stock price was down 5.4% during trading on Monday . The stock traded as low as $20.49 and last traded at $20.7450. Approximately 847,351 shares changed hands during trading, a decline of 84% from the average daily volume of 5,406,968 shares. The stock had previously closed at $21.92.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ALM shares. Weiss Ratings reiterated a "sell (e+)" rating on shares of Almonty Industries in a research note on Monday, December 29th. DA Davidson reissued a "buy" rating and set a $25.00 price objective on shares of Almonty Industries in a research report on Thursday, March 26th. Texas Capital raised shares of Almonty Industries to a "strong-buy" rating in a research report on Thursday, April 16th. Oppenheimer raised their price objective on shares of Almonty Industries from $16.00 to $19.00 and gave the stock an "outperform" rating in a research report on Friday, March 20th. Finally, B. Riley Financial raised their price objective on shares of Almonty Industries from $17.00 to $23.00 and gave the stock a "buy" rating in a research report on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Almonty Industries has a consensus rating of "Moderate Buy" and a consensus price target of $18.38.

Almonty Industries Price Performance

The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.76 and a current ratio of 3.89. The company has a market capitalization of $5.97 billion and a PE ratio of -36.35. The company's 50-day simple moving average is $18.12 and its 200-day simple moving average is $12.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Marathon Capital Management purchased a new stake in shares of Almonty Industries in the third quarter valued at about $1,509,000. First Eagle Investment Management LLC purchased a new stake in shares of Almonty Industries in the third quarter valued at about $543,000. Telemark Asset Management LLC purchased a new stake in shares of Almonty Industries in the third quarter valued at about $7,839,000. Huntleigh Advisors Inc. purchased a new stake in shares of Almonty Industries in the third quarter valued at about $661,000. Finally, Old West Investment Management LLC purchased a new stake in shares of Almonty Industries in the third quarter valued at about $2,148,000.

Almonty Industries Company Profile

Almonty Industries is a Canada-based mining company focused on the production, development and acquisition of tungsten assets. The company’s principal business activity is the mining and processing of tungsten-bearing ore to produce tungsten concentrates for industrial customers. Almonty pursues both operating mines and advanced-stage development projects with the objective of supplying a critical raw material used in hardmetals, tooling, drilling and other industrial applications.

Almonty’s asset footprint has historically included operating and development projects in Europe and Asia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.